Buying repossessed property in London
Buying a repossessed property in the UK can be simple. Firstly when a borrower falls into arrears with their mortgage and no solution can be found it is sometimes necessary for the lender to reposs...
Buying a repossessed property in the UK can be simple. Firstly when a borrower falls into arrears with their mortgage and no solution can be found it is sometimes necessary for the lender to repossess that property. When a lender repossesses a property they have a dual responsibility to act fairly towards the former owner and to seek a sale quickly, so that the arrears do not continue to rise. This certainly does not mean that lenders are likely to sell a property it half price, but it does mean that there are potential bargains to be had if you, as a purchaser are in a position to act quickly.
The reason for this is that the bank?s primary intention is to recoup the outstanding loan amount (the balance is paid to the previous owner minus any costs).
Repolist has the largest real time database of repossessed properties in the UK. This means that if you are looking for a repossessed property for sale in London, our database is the quickest way to find it. The Repolist database is automated and maintained in real time.
- Full property details with all agent contact details
- Easy to use. Search like Rightmove or Zoopla
- Search alerts facility
- Catalogues properties requiring refurbishment
- 150+ Auction properties
- Land and development plots
- Cash only purchases
The repossessed property market in London is competitive due to a chronic lack of supply however, a property purchased in this way is likely to be at a discount to the ordinary market value.
- Using search alerts saves time
- No need to wade through thousands of irrelevant properties
- No need to check lots of different auction sites
- Quickly find ?problem? properties with uplift potential
Currently subscription to Repolist costs £9.99+vat per calendar month. This is a rolling contract with no tie-ins.